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Deutsche Effecten- und Wechsel-Beteiligungsgesellschaft: impairment of DirectPhotonics Industries GmbH

Friday, 7 Oct 2016 02:06am EDT

DEWB AG Deutsche Effecten- und Wechsel-Beteiligungsgesellschaft AG : Said on Thursday meeting of creditors of DirectPhotonics Industries GmbH had decided to sell all assets of the company to a third party bidder . Die Deutsche Effecten- und Wechsel-Beteiligungsgesellschaft AG applied to the insolvency court to lift this decision . If the decision is maintained by the court, ongoing negotiations of DEWB with other interested parties to jointly restructure DirectPhotonics Industries GmbH will fail .As a result of the creditors' meeting DEWB will make a precautionary impairment provision of 2.568 million euros ($2.85 million).

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